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Bekteshi: Financial support worth EUR 550 million provided to companies, citizens in past 3 months

In the past three months since the outbreak of COVID-19 pandemic, we have provided financial support worth over EUR 550 million to the economy and to citizens. Of which, only the third set of economic measures stands at EUR 355 million and is intended to over 700,000 beneficiaries, Economy Minister Kreshnik Bekteshi said at Wednesday’s press briefing.

Skopje, 17 June 2020 (MIA) – In the past three months since the outbreak of COVID-19 pandemic, we have provided financial support worth over EUR 550 million to the economy and to citizens. Of which, only the third set of economic measures stands at EUR 355 million and is intended to over 700,000 beneficiaries, Economy Minister Kreshnik Bekteshi said at Wednesday’s press briefing.

This set of measures, also includes support to companies that invested during the corona crisis and continued working in their growth and development, in improving competitiveness and modernization of the production process, Bekteshi said.

He said that Ministry of Economy launched last week a public call for financial support aimed at strengthening the competitiveness of the companies in the post COVID-19 period, which is open until 31 July 2020.

“This measure is not intended for companies that showed negative financial results in 2019, perform activities in the field of primary agriculture, forestry and fisheries, perform construction activities related to construction and sale of apartments and residential and business buildings, work in industries for the production of coal and steel, and are supported by other measures to support specific sectors such as the banking sector, financial services. Also, companies that are eligible for concessions on goods of general interest, produce excise goods, except excise goods intended for pharmaceutical, medical and industrial laboratory purposes, as well as trade in retail and wholesale, except if they invest in fixed assets and facilities,” Bekteshi added.

“The amount of financial support is 25% of the realized investment according to the investment plan that will be submitted by the applicant, but not more than EUR 40.000 for companies that generated total revenue in 2019 not higher than EUR 1 million, up to EUR 100,000 for companies that achieved total revenue in 2019 from EUR 1-10 million, up to EUR 140,000 for companies that generated total revenue in 2019 from EUR 10-50 million, and up to EUR 200,000 for companies that generated revenue in 2019 exceeding EUR 50 million,” Bekteshi explained.

“The government has provided EUR 20 million for realization of this measure and all interested companies that will apply will have to submit an investment plan, the current state of the business entity, the income statement for 2019, the calculation of the profit tax accruals for the months of March, April and May 2020,” he said.

Bekteshi noted that this measure we will help the companies to launch investments, to improve their capacities, to be more productive and to return to the markets they lost and conquer new markets.

He reminded that the government adopted three sets of economic measures to support the companies and the citizens, to support the companies most affected by coronavirus crisis, to maintain liquidity and to pay the wages to employees.

Development Bank so far has provided zero-interest loans in the amount of EUR 12.6 million for 1,331 micro, small and medium-sized companies with 16,632 employees. Many companies applied for the measure for payment of minimum wage of MKD 14,500 (EUR 235) in April and May and last week we decided to extend this measure for the month of June, he said.

“The third set of measures incorporates issuing of payment cards and vouchers for domestic tourism that the citizens will receive,” Bekteshi said.

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